CHAMPCAR/CART: Yoong steps down at Dale Coyne Racing

Kuala Lumpur, Malaysia - Monday, May 26, 2003 - Malaysia's ex-Formula 1
driver, Alex Yoong confirmed that he has been asked to step down from the
Dale Coyne Racing seat after four Champ Car races with the team. This
information was officially ...

Kuala Lumpur, Malaysia - Monday, May 26, 2003 - Malaysia's ex-Formula 1
driver, Alex Yoong confirmed that he has been asked to step down from the
Dale Coyne Racing seat after four Champ Car races with the team. This
information was officially relayed by Dale Coyne to Yoong's manager, Rick
Gorne, over the weekend. This is a blow to the young Malaysian's
progress as he had chalked up good results and impressed many in the
Champ Car paddocks in the four races he participated in Champ Car this
year.

"There is simply not enough interest in the series from Malaysia at the
moment and we have not been able to find the necessary funding to
complete the year." said a philosophical Yoong. "I am grateful to Dale
Coyne for having given me the chance to prove that I can do the job. Dale
officially informed my manager over the weekend that Gualter Salles of
Brazil will be replacing me from Milwaukee onwards and I like to wish the
team all the best for the rest of the season."

Meanwhile, Yoong who is sponsored by Malaysia Airlines, is not giving up
on finding another drive elsewhere in Champ Car or in other series. He
intimated, "There are some other possibilities available and I will have
to see what provides the best opportunity to further my career. I have
really enjoyed driving in The Champ Car World Series though and would
love to continue racing in the CART series there."

A sponsorship marketing spokesperson who is assisting Yoong in marketing
explained that although it is disappointing that there were little
success in securing the sponsorship required from Yoong's own country, it
was at the same time not unexpected due to the current depressed state of
the economy worldwide.

He said the post-Iraq war uncertaintities with the continuing threat
of terrorism as well as SARS are affecting income forecasts by companies
in Malaysia big time, "It is very natural for the companies in Malaysia
and Asia to be cautious in the face of these uncertain times. We can see
this cautious approach in sponsorship prevalent not only in this
region but worldwide as well. We hope the situation will turn around for
the better in 6 to 12 months time." the spokesperson added.